By Simon Abaho
Prudential Assurance Uganda Limited (Prudential Uganda) has successfully transferred the policy holders, staff and agents of International Air Ambulance Healthcare (IAA Healthcare) to its business.
This follows a comprehensive transfer process that was presided over by the insurance industry’s supervisory body, the Insurance Regulatory Authority (IRA).
Mr Arjun Mallik, Regional Chief Executive Officer (CEO) of Prudential Eastern and Central Africa said; “This development is a major milestone for our business in Uganda and demonstrates our commitment to rapidly expand in Africa which is an important part of Prudential’s growth strategy.
He added that; “At Prudential, our purpose is to help people get the most out of life. We want to assure our new and existing customers that we are committed to continuously provide them with quality and affordable health insurance, delivered with the highest level of service”
Prudential started its business in Africa in 2014 and expanded into Uganda in 2015.
Today, Prudential is one of the largest life and health insurers Uganda, providing a full-suite of health, savings and protection solutions through its market-leading distribution and servicing team.
Prudential was recently recognized as the most innovative life insurer by the Insurance Regulatory Authority of Uganda.
Mr Alhaj Kaddunabbi Lubega, CEO of IRA said; “Mergers and acquisitions breed healthy competition and bring about customer-centric innovations and improved service delivery which will in turn result in greater insurance penetration and more people being protected,” Lubega said.
He noted that the IRA has worked closely with Prudential Uganda and IAA Healthcare to ensure the transfer process is done in compliance with global standards and that policyholders of IAA Healthcare continue to receive the same benefits and service during the terms of their health insurance contracts.”
Mr. Andre Tait, General Manager, IAA Healthcare, said; “Following a review of our operations and the need to refocus and repurpose our business while ensuring continued value to our customers and all stakeholders, we made a decision to transfer our health insurance business to Prudential Uganda. We are committed to ensure a seamless transition of all existing and new IAA Healthcare policyholders to our new partner.”
Mr. Sukhmeet Sandhu, CEO of International Medical Group said; “I congratulate Prudential Uganda upon achieving this milestone that will also pave way for a beneficial partnership delivering superior customer experience to our mutual clients.”
He further stressed; “This transfer of business highlights our commitment to ensuring the provision of quality and affordable services of international standards across our network in Uganda”.
Prudential is presently in eight markets across the continent – Cameroon, Cote d’Ivoire, Ghana, Kenya, Nigeria, Uganda, Togo, and Zambia.
It serves 1.2 million customers with the support of more than 11,000 agents and a bancassurance network of over 600 branches.
To reach more customers on the continent, the insurer is investing in an artificial intelligence-powered health and wellness app (Pulse) which is now available in six markets.
Pulse will be offered in all eight markets of Prudential by the end of 2021